Ahead of your regularly scheduled episode of Marketplace this afternoon, we're bringing you the second episode of the new season of The Uncertain Hour. Starting where episode one left off, we find the government and consumer activist Ruth Desmond trying to answer an existential question: How many additives can you put into a jar of peanut butter before it's not peanut butter anymore? Trying to answer it kicked off a multiyear battle that changed the way we think about regulations in this country. The things we fight the most about are the things we know the least about, so subscribe to The Uncertain Hour and visit theuncertainhour.org for more.
In a matter of weeks, the GOP tax plan will be in effect and riddled with unintended consequences due to the haste of passing it, says Tax Analysts chief economist Martin Sullivan. His favorite unintended consequence? Benefits for pass-through companies, which are basically any businesses that aren't corporations, and could include you if you incorporate yourself. Then your wages can be seen as tax-preferred income and you can pay a lower rate. Plus, how GE’s job cuts relate to the fall in demand for fossil fuel power equipment, the challenges and costs of getting emergency alert systems right and Kai Ryssdal talks Reagan-era glamour and workplace gender equality with pioneering Vanity Fair Editor Tina Brown.
The GOP tax bills in the House and Senate have been portrayed as legislation intended to create a windfall for big business. But the bills have winners and losers by industry sector. We take a look at what industries come out ahead, and we give you context on the Bitcoin boom, the rumored $60 billion sale of Fox's entertainment assets to Disney and why Jerusalem's divided economy is at risk. Plus, the latest installment of “My Economy," where we hear from the publisher of a cultural magazine about southern Louisiana.
Those are two completely different subjects, one having to do with a very long-term American problem: the dearth of innovation, which could be remedied if more low-income people of color and women were encouraged as children to innovate, according to Stanford economics professor Raj Chetty. And the other problem, lost tax revenue, is more concrete. Forty billion dollars over the next 10 years — that’s what we’d lose if the House’s proposition to repeal the 20 percent minimum tax rate for corporations goes forward (the Senate’s version of the bill keeps it.) Those differences are being ironed out this week. Also this week, a government shutdown looms. In other news, we check in on how Ireland’s open border will be affected by Brexit, and we visit the National Portrait Gallery to see an exhibition on American workers.
We get down to the differences between the Senate and House versions of the tax bill, and debt created is one of those differences. Also included is the number of tax brackets, the alternative minimum tax and the amount of the child tax credit. Plus, Marketplace’s Dan Gorenstein is in Boston looking at how to woo investors to a working-class neighborhood in order to create a healthy, mixed-income community, and Kai Ryssdal figures out how to tell the difference between real and fake Nikes with Eddy Lu, CEO of GOAT, an online sneaker resale marketplace that specializes in authenticity.
You risk overheating it. If these cuts pass, and if they do, in fact, stimulate the already-growing economy, the Fed would inevitably have to pump the brakes and raise interest rates. We get into that scenario and hear listeners' ideas about what America would look like with this tax bill in place. Plus, who the Children's Health Insurance Program left stranded when Congress failed to extend its funding, a dispatch from coal country and the tale of how Charles Dickens wrote his hit Christmas story and ended up with almost no money.